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THE INDIA RUBBER WORLD 



[June 1, 1912. 



First : That tlie total authorized capital stock of the com- 

 pany, now fully issued to the extent of $75,000,000 be increased 

 to the total amount of $120,000,000. to be divided into $40,000,000 

 common stock and $80,000,000 preferred stock. 



SsroND: That out of this additional $15,000,000 common stock 

 and $30,000,000 preferred stock, provision be made substantially 

 as follows : 



(1) A common stock dividend of $5,000,000 or 20 per cent, 

 upon the present outstanding common stock ; a dividend which 

 will be warranted by the company's surplus. 



(2) An offer ratably to all stockholders of $10,000,000 first' 

 preferred stock at par and accrued dividend. 



(3) An offer to the holders of the second preferred stock 

 of an opportunity for a virtual exchange of their present stock 

 on the basis of 100 shares of second preferred stock for 75 

 shares of first preferred stock. 



This plan having been fully carried out, there would be is- 

 sued and outstanding $57,500,000 preferred stock and $30,000,000 

 common stock, leaving imissued $22,500,000 preferred stock and 

 $10,000,000 common stock. And the company thereafter will 

 have but two instead of three kinds of stock. 



Of this preferred stock the $2,500,000 gained through the re- 

 tirement of the second preferred stock would be available 

 (without exceeding the two to one requirement of the New 

 Jersey Law) for offer if deemed advisable for the minority 

 holdings of the Rubber Goods Manufacturing Co. stock. 



The $20,000,000 preferred stock and the $10,000,000 common 

 stock then remaining would be available for the future uses of 

 the company. 



The result of these operations would be to obtain $10,000,000 

 additional cash for the United States Rubber Co. in a way giving 

 ratably to the stockholders the benefit of the premium upon the 

 $10,000,000 preferred stock. 



Before deciding finally as to this plan the board of directors 

 desires to know the disposition of the stockholders, and accord- 

 ingly recommends that this meeting be adjourned to reconvene 

 at the company's office in New Brunswick. New Jersey, on 

 Friday, May 31, at 12 m., for an informal vote upon these 

 propositions. The proxy committee announces that unless and 

 except as otherwise instructed it will vote in favor of this 

 plan all present proxies not withdrawn before that meeting. 



In case of approval by a sufficient amount of stock, the board 

 of directors expects then to proceed to take the action, and to 

 call the special stockliolders' meeting or meetings necessary to 

 carry the proposed plan into effect ; and then or thereafter to 

 submit a further plan or plans for the refunding of all of the 

 existing obligations of the company and of its subsidiaries, and 

 adequate provision for future needs of this important and steadily 

 extending organization in a chief industry of the world. 



By direction of the board of directors a copy of this address 

 is being mailed to every stockholder. 



S.\MUEL P. Colt, President. 



A SUPPLEMENTARY ANNOTTNCEMENT. 



Following the reading of his address Col. Colt made the 

 following announcement : 



"Among the things that I advocate is the immediate construc- 

 tion by the United States Rubber Co. of the largest and best 

 tire plant in the world in order to meet the growing demand for 

 our tires. 



"I feel that we are warranted in this undertaking from my 

 belief that the tire industry is still in its infancy, and that 

 although the principle of the 'survival of the fittest' may be 

 found to apply, that the splendid organization of the United 

 States Tire Co. will be able to market a much larger volume 

 of tires than the United States Rubber Co. with its present 

 capacity (although now operating four tire factories) is able 

 to manufacture." 



A LIGHTNING CALCULATOR FOR DRY COSTS. 



nPHERE are certainly a great many active brains at large; one 

 ■^ proof of which is to be found in the fact that every few days 

 somebody invents some simple little device that does in a minute 

 what able-bodied men have been accustomed to devote hours to. 

 Here is an ingenious Httle contrivance for getting the dry cost of 

 rubber at a glance. It consists simply of a celluloid disk about 

 31-2 inches in diameter, with another celluloid disk Zyi inches in 

 diameter, the two being fastened together at their centers so that 

 the small disk turns freely on the other disk. To find the dry- 

 cost of rubber it is necessary simply to turn the upper disk on the 

 lower so that the percentage of shrinkage comes opposite the 









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market price of crude rubber; then the arrow marked "dry cost" 

 points to the actual dry cost of the rubber. 



For instance, on the day when the accompanying cut was made 

 Upriver fine was quoted at $1.11. Calling the shrinkage 18 per 

 cent, and placing 18 per cent, on the inner disc opposite $1.11 on 

 the outer disc, we get a dry cost of $1.35. It is a tremendous 

 saving of time to people who have these calculations to make. 

 The illustration shows one of these dry cost calculators issued 

 by the Acushnet Process Co., New Bedford, Mass. Anyone who 

 has use for this device can apply to that company and secure one. 



THE GOODRICH COMPANY NOT TO BUILD ON LONG ISLAND. 



Some of the New York papers have recently had an item to 

 the effect that The B. F. Goodrich Co., of Akron, Ohio, had 

 purchased a large plot in Long Island City, adjacent to the 

 tracks of the Pennsylvania-Long Island Railroad, with the ex- 

 pectation of erecting a factory. In reply to an inquiry. C. B. 

 Raymond, secretary of The B. F. Goodrich Co., makes this 

 statement : 



"We have heard this same rumor ourselves and are utterly 

 unable to learn how it ever originated, because we have done 

 nothing of the kind, neither have we had any negotiations nor 

 idea looking toward any such move on our part. You are, 

 therefore, authorized to take this as our oflicial denial of any 

 such intention." 



Replete with information for rubber manufacturers : Mr. 

 Pearson's "Crude Rubber and Compounding Ingredients." 



